Responsible Lending Policy

Our Philosophy: Intended Use of Loans

Our policy is to ensure our consumers understand that any Cash Advances, Payday Loans, or similar short-term loan products accessed through our service are meant specifically for short-term, emergency situations that arise unexpectedly before your next paycheck.

In no way should they be considered long-term financial solutions or tools for ongoing money management. These are typically high-cost loans intended to bridge a temporary gap.

If you require assistance with debt management or long-term financial planning, we strongly recommend seeking guidance from an independent, qualified debt professional or a non-profit credit counseling agency.

Guidance for Responsible Borrowing

While we connect you with lenders, we also advocate for financial wellness. Here are some important tips to consider for managing your finances:

1. Make a Budget

• List income you receive from all sources so you know exactly how much you bring in each month.
• List how much you have in savings and how much you aim to add to it each month, even if it's just a small amount.
• After you've done that, list your fixed monthly expenses such as rent/mortgage, car payments, cell phone bills, insurance, and internet access.
• Then list your variable expenses – things like groceries, clothing, utilities (gas and electric), transportation fuel, and entertainment.
• Add the two expense lists (fixed and variable). Compare this total to your total monthly income.
• If you have money left over each month, allocate it towards your savings goals or debt reduction. If your expenses exceed your income, review your variable expenses to see where you can cut back.

2. Understand the Importance of Savings

It can be hard to put money away unless you change the way you think about savings. Treat saving like a necessary bill.

• When you pay your bills each month, try writing a check or making an automatic transfer to your savings account, even if it's just for $10 or $20.
• Make this savings deposit consistently every month and try not to touch it unless absolutely necessary.
• Periodically (e.g., every six months or yearly), try to increase that amount, even if only by a small margin ($5 or $10).
• The main thing is to make saving a regular habit and watch your emergency fund grow over time.

3. The Trick to Smart Spending

Spending isn't inherently bad, but irresponsible spending can lead to financial difficulty. Practice mindful spending:

• Try to ensure you genuinely need what you're buying. Differentiate between needs and wants.
• Watch for sales, use coupons, and look for discounts online before making purchases.
• Most importantly, stay within the budget you set for yourself. Avoid impulse buys that aren't accounted for in your budget.

When to Consider Our Service: True Emergencies

Our Policy on Responsible Lending Practices

Wow-loans.com is dedicated to providing you, the consumer, with access to a network of lenders who are reputable and committed to operating ethically and legally. While Wow-Loans.com is not a lender, we set expectations for the lenders participating in our network.

We require all our participating Lending Partners to adhere to applicable federal, state, and tribal regulations governing lending, including fair lending laws like the federal Truth in Lending Act (TILA).

As a result, all participating lenders are expected to provide you with clear, comprehensive written documentation outlining their specific rates, fees, potential late charges, rollover charges (if applicable), and all other pertinent details of their loan offer *before* asking you to sign the loan agreement.

We strive to avoid working with any lender known to have violated these requirements or other applicable state or tribal regulatory legislation.

Commitment to Fair Lending

In addition, our participating lenders are expected to engage in "fair lending practices," generally understood as providing access to credit in a "fair, equitable, and nondiscriminatory" manner, consistent with principles outlined in laws like the Dodd-Frank Wall Street Reform and Consumer Protection Act.

This framework allows consumers who believe a lender has violated regulations pertaining to their loan to file a complaint with regulatory bodies, such as the federal Consumer Financial Protection Bureau (CFPB).

If Wow-loans.com becomes aware that any participating lender in our network violates these ethical policies or applicable laws, we reserve the right to terminate our business relationship with them.

Our Code of Practice & Commitment to You

Wow-loans.com is here specifically to assist you in connecting with potential lenders. The one thing we stand by is striving for consumer satisfaction within the scope of our service.

While we cannot resolve disputes about loan terms directly (as we are not the lender), if you have a significant issue regarding the practices of a lender you connected with through our service, please let us know. We value your feedback as part of our ongoing effort to maintain a network of responsible lenders.

For once, it's time to have a company that not only understands the need for access to short-term credit but is also committed to promoting responsible practices within the industry.